Citibank halving exchange rates when converting to QFF

pkoul1971 · #1 (**permalink**) 29th May 2008, 02:54 PM

I spoke to Citibank today and I was told that from the 11th of June when transferring Citibank rewards to QFF points that the exchange rate will be halved in your have a Silver card.

Can they do this??? Has any heard this yet or received information from Citibank?

Very concerned!

oz_mark · #2 (**permalink**) 29th May 2008, 03:10 PM

Yes, see my second post in this thread. It was mentioned on statements around March or April.

http://www.frequentflyer.com.au/comm...ers-13024.html (All Citibank Gold Visa holders)

Robert Barlow · #3 (**permalink**) 29th May 2008, 04:59 PM

Quote:

Originally Posted by oz_mark

Yes, see my second post in this thread. It was mentioned on statements around March or April.

http://www.frequentflyer.com.au/comm...ers-13024.html (All Citibank Gold Visa holders)

Saw your post and read in to it carefully. I have a CB Plat and have not seen any info about points discounting. To the OP of this thread - yes - they can do it. They own the bat and ball and they need a good innings. Citibank have had a terrible year and are looking to minimise expenses.

oz_mark · #4 (**permalink**) 29th May 2008, 05:29 PM

Quote:

Originally Posted by Robert Barlow

Saw your post and read in to it carefully. I have a CB Plat and have not seen any info about points discounting. To the OP of this thread - yes - they can do it. They own the bat and ball and they need a good innings. Citibank have had a terrible year and are looking to minimise expenses.

I imagine that as Gold and Plat is not affected in this round of discounting that they haven't been told.

Alanslegal · #5 (**permalink**) 29th May 2008, 07:46 PM

Quote:

Originally Posted by oz_mark

I imagine that as Gold and Plat is not affected in this round of discounting that they haven't been told.

I have a gut feeling CB would be too afraid to halve points to the Gold card. I would hear an exodus of Gold Card holders cancel if this was the case.

beardoc · #6 (**permalink**) 31st May 2008, 11:37 AM

Quote:

Originally Posted by Alanslegal

I have a gut feeling CB would be too afraid to halve points to the Gold card. I would hear an exodus of Gold Card holders cancel if this was the case.

I would hope so - although I wonder of the "fee free for life" cardholders - would we retain it or stop using it?

mosanator · #7 (**permalink**) 11th June 2008, 08:47 AM

Quote:

Originally Posted by beardoc

I would hope so - although I wonder of the "fee free for life" cardholders - would we retain it or stop using it?

I would retain it as a wallet filler and emergency only, and go looking for another card.

Febs · #8 (**permalink**) 11th June 2008, 10:28 AM

Quote:

Originally Posted by mosanator

I would retain it as a wallet filler and emergency only, and go looking for another card.

I'd do the same.

edison · #9 (**permalink**) 11th June 2008, 10:32 AM

Quote:

Originally Posted by Febs

I'd do the same.

But even if CB decides to halve the point to Qantas for Gold/Platinum card holders, what other Visa/Mastercard offers points to Qantas with no annual fee for life? Wouldn't CB still comes out on top? A lot of places still don't take Amex.

Chicken · #10 (**permalink**) 13th June 2008, 11:59 PM

Quote:

Originally Posted by edison

But even if CB decides to halve the point to Qantas for Gold/Platinum card holders, what other Visa/Mastercard offers points to Qantas with no annual fee for life? Wouldn't CB still comes out on top? A lot of places still don't take Amex.

I am now using Earth+ from my girlfriend, as I am capped by Citibank. Yes, it is converting at 0.5 point, but at least there is no cap.

I will get her to switch back to Altitute after this year, so we can convert at .05 mile with Singapore (hence *A), instead of 0.5km with QF.

Even if there is no cap with Citibank at $1 = 1 QF point, it is still not that good anymore, since Westpac is $1 = 0.5 mile with SG with no cap. Hey, basic Altitute is only $100